Wind Point Partners, a Chicago-based private equity investment firm, said on Monday that it has acquired Argotec. No financial terms were disclosed. Also, Guy Broadbent will join Argotec as CEO. Based in Greenfield, Mass., Argotec is a provider of coating and polyurethane solutions. GE Antares Capital and Ares Capital Corporation provided senior debt for the transaction.
Chicago, IL, June 3, 2013 — Wind Point Partners, a Chicago-based private equity investment firm, today announced the acquisition of a new platform company, Argotec.
Based in Greenfield, Mass., Argotec is a manufacturer of specialty polyurethane film and sheet with unique properties ideal for a variety of niche applications, including surface protection and impact resistant glass, among others.
Wind Point acquired Argotec in partnership with Guy Broadbent, who will join as CEO. Guy has 27 years of experience in the plastics, specialty chemicals and technical / manufacturing industries, most recently serving as CEO of Xcellerex, an early stage bio-manufacturing platform backed by Kleiner Perkins Caufield Byers. Prior to that, Guy was President of the $1.8 billion Laboratory Products Group at ThermoFisher Scientific. In addition, current Argotec executives Bruce Wilby and Nick Filler will continue in senior leadership roles with the business.
Paul Peterson, a managing director at Wind Point, commented, “Argotec is a solid business that has performed well under Bruce and Nick’s leadership. Argotec provides a unique product with an intense focus on quality, and we believe that Guy can leverage these key strengths to continue Argotec’s growth.”
Guy Broadbent, CEO of Argotec, stated, “Argotec has built a unique position in the market and has historically experienced very strong growth in its niche. Our value creation plan leverages Argotec’s focus on high quality products and innovation to drive opportunities in new markets, applications and geographies.”
Senior debt for the transaction was provided by GE Antares Capital and Ares Capital Corporation. ReedSmith LLC acted as the legal advisor to Wind Point.
About Wind Point Partners
Wind Point Partners is a private equity investment firm that manages commitments of approximately $2.5 billion. Wind Point partners with top caliber CEOs to acquire middle market businesses where we can establish a clear path to value creation. Additional information about Wind Point is available at www.windpointpartners.com.
Argotec is a supplier of custom engineered, high-performance, polyurethane films and sheet for a wide variety of critical applications. In addition to flat-die, cast-on-carrier and blown-film-extrusion technologies, Argotec has expertise in extrusion coating, multi-layer constructions and closed-cell polyurethane foam sheet extrusion. Argotec provides TPU film and sheet products globally to the international specialty films market, including adhesive coaters, plastics converters and fabricators, as well as direct to OEM’s. Further information about Argotec may be obtained at www.argotec.com.